The owner of the Palace Theatre says he has again turned down a bid for the Union Street building, but has other offers on the table.

Manoucehr Bahmanzadeh says he has rejected a £950,000 cash bid from an entrepreneur for the iconic theatre.

But he is still considering one offer from an Islamic Centre and another from former Palace Theatre leaseholders Greater Opportunities to buy the building.

In a startling post on the Friends of the New Palace Theatre Facebook site, a city entrepreneur revealed he had offered the six-figure sum for the freehold of the Palace Theatre, the adjacent Great Western Hotel and the Phoenix public house.

Mr Bahmanzadeh said: "It’s hugely surprising how since all of the break-ins and criminal damages started, they have assisted in a roundabout way and in the last couple of weeks alone I have now received three separate offers on the Palace Theatre.

“One of these offers is from an Islamic centre, another from a previous charity/leasee. And the final one is from a local businessman.

“This time round it’s a more interesting offer which is, acting as a middle man for a Far-Eastern consortium – offering just over half the asking price but adding the freehold of Phoenix into the equation.

“This particular businessman had previously offered me £1.5 million pounds, but on condition that I lend him the full amount.

“Which of course I could not evaluate and take as a serious offer.

The latest picture sent to the Victorian Society shows the extent of the damage done to the Palace Theatre's Blue Room

“So to reiterate, this offer via this person acting as a middleman, I absolutely must take this, not with a pinch of salt, but more like a sack.

“The reality is, any serious businessman in my position would do the same by asking himself, what is the reason for a ‘far eastern consortium’ and would it have the best intentions of the Palace Theatre at heart?

“So, therefore, how can I take it as a serious offer?

“In addition, I have learned this businessman currently remains the director of a financial institution which is currently undergoing a winding up order."

In March this year the charity Great Opportunities (GO), led by chief executive Heather Hunter, pulled out of the multi-million-pound renovation of the Grade II* listed Victorian theatre.

Having initially claimed it would be “one of the biggest volunteer-led projects in the UK” by the early part of 2017 the charity blamed a four-fold cost in insurance and “attacks in the local press” for their problems.

The lengthy lease the charity had secured in 2015 from Mr Bahmanzadeh was handed back along with the keys.

Palace Theatre - still one of the most endangered Victorian buildings in England (Image: Guy Channing)

A couple of weeks later the £1.5million bid was put on the table by a city entrepreneur who said he wanted to return the building to its former glory, but according to a statement by Mr Bahmanzadeh in March this year he turned it down.

He now insists the offer was just for the Palace and the hotel and not the Phoenix and that was later withdrawn by the city entrepreneur, not turned down by him.

The society said it was becoming increasingly concerned about the state of the building, particularly as the photos appeared to show the removal of highly-valued ceiling plasterwork as well as what appeared to be debris from a collapsed ceiling on a set of stairs.

Inside the Palace Theatre - these recent pictures sent to Victorian Society suggest masonry and plaster was collapsing

The latest chapter in the story has seen an exchange between the city entrepreneur offering £950,000 and Mr Bahmanzadeh’s startling reply posted on the Friends of New Palace Theatre Facebook page late on Thursday October 19.

It was unexpectedly taken down a short while later.

However, by that time a number of other members of the page had seen the post and forwarded screen-grabs to The Herald which showed Mr Bahmanzadeh claimed to have other offers on the table and was not interested in the £950,000.

Manoucehr Bahmanzadeh: Statement in full

"It’s hugely surprising how since all of the break-ins and criminal damages started, they have assisted in a roundabout way and in the last couple of weeks alone I have now received three separate offers on the Palace Theatre.

“One of these offers is from an Islamic centre, another from a previous charity/leasee. And the final one is from a local businessman.

“This time round it’s a more interesting offer which is, acting as a middle man for a Far-Eastern consortium – offering just over half the asking price but adding the freehold of Phoenix into the equation.

Read More

“This particular businessman had previously offered me £1.5 million pounds, but on condition that I lend him the full amount.

“Which of course I could not evaluate and take as a serious offer.

“So to reiterate, this offer via this person acting as a middleman, I absolutely must take this, not with a pinch of salt, but more like a sack.

“The reality is, any serious businessman in my position would do the same by asking himself, what is the reason for a ‘far eastern consortium’ and would it have the best intentions of the Palace Theatre at heart?

“So, therefore, how can I take it as a serious offer?

“In addition, I have learned this businessman currently remains the director of a financial institution which is currently undergoing a winding up order.

“I have examined a progress report by the liquidator, posted on the Companies House website on September 17, 2017 which states that the company’s records ‘disclosed an overdrawn Director’s loan account of £157,978’.

“This liquidator’s report states they have been ‘seeking to recover such balance through the courts.’

“It goes on to state that ‘as a result of non-payment of this loan, the Liquidators petitioned for bankruptcy of the former director and a bankruptcy order was subsequently made against [city entrepreneur] on 24 April 2017. The liquidator will provide the trustees of [city entrepreneur’s] estate with all necessary details to lodge a claim in the bankruptcy proceedings’.

Palace Theatre's crumbling Dance Academy sign

“As a businessman, I have to be confident I can do business with someone. When I’m sent a text message offer of a £950,000 deal involving a ‘far east’ consortium, and when I read such reports posted on Companies House in black and white, I cannot, in all honesty, feel confident in such an offer. I’m sure I would not be alone in that.

“I can assure the good people of Plymouth that the well being and best interest of these buildings have always been in my heart and I have always done everything in my power and whatever is humanly possible, and I have always gone that bit further with a negative cost to myself and my family.

“A few days ago we had an inspection from Plymouth City Council, which resulted in confirmation that the condition of the building are NOT as bad as the anonymous photographs are suggesting – and then we all agreed that after 21 years of bitter relation between ourselves, there is now a new era of optimism and unity and togetherness and cooperation with the intention of the well being for the benefit of the Palace Theatre and the Great Western Hotel.

Inside the Palace Theatre after years of neglect

“However, the good news is that we have a resident caretaker who is fully qualified and is permanently on site. His job is solely responsible and fully qualified to deal with all jobs and works which maybe needed.

“Finally I want to assure the good people of Plymouth that the well-being of these buildings are always and have been in my heart.

“The way forward for the Palace is for people who have knowledge, business sense and a sensible and realistic plan.

“Money would never be my first aim and I have always said that I would be more than happy to give the Palace Theatre to the good people of Plymouth which I love and I respect for absolutely free, in return for any news which may help us with our on-going investigation for miscarriage of justice.”

The entrance stairs of the Palace Theatre in 2013 (Image: Lucy Blake)

Plymouth City Council's response

A spokesman for Plymouth City Council said: “We can confirm that officers from the council visited the Palace Theatre after a member of the public raised concerns about the condition of this listed building.

“Our officers had co-operative discussions with the owner of these important buildings.